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HomeMy WebLinkAboutResolution - 2019-R0375 - Creation of the Upland Crossing PID - 10_08_2019. �, 1� ' �I� ����G� �a�,�. .��. CITY OF LUBBOCK COUNTY OF LUBBOCK STATE OF TEXAS � � � � 2020009373 25 PGS RESOL ���� �� �� ��l���k�i�������'� 1� �� � CERTIFICATE TO COPY OF PUBLIC RECORD I hereby certify, in the performance of the functions of my office, that the attached instrument is a full, true and correct copy of Resolution No. 2019-R0375, as the same appears of record in my office and that said document is an official record from the public office of the City Secretary of the City of Lubbock, Lubbock County, State of Texas, and is kept in said office. I further certify that I am the Deputy City Secretary of the City of Lubbock, that I have legal custody of said record, and that I am a lawful possessor and keeper and have legal custody of the records in said office. In witness whereof I have hereunto set my hand and affixed the official seal of said office this October 10, 2019. (Ci�y,Seal) ��y' .,• � , .. . �� %, . �� ` trt • r . ' ' , � `' ' • C_. - �,P; � . : �l��� j �� ...... `:i ..f, i. � ., ���::�,�:�t,��� Courtney Paz Deputy City Secretary City of Lubbock Lubbock County, State of Texas Resolution No. 2019-RO375 Item No. 7.2.1 October 8, 2019 A RESOLUTION OF THE CITY OF LUBBOCK, TEXAS, APPROVING AND AUTHORIZING THE CREATION OF THE UPLAND CROSSING PUBLIC IMPROVEMENT DISTRICT WHEREAS, the City Council (the "Council") of the City of Lubbock (the "City") has received a petition (the "Petition") with signatures from the record owners of taxable real property representing more than fifty percent (50%) of the appraised value of an area within the City as determined by the most recent certified appraisal roll of the Lubbock Central Appraisal District, and owners of more than fifty percent (50%) of the area of all taxable real property that is liable for assessment under the area covered by the Petition; and WHEREAS, the Petition requests that the City establish a public improvement district according to Chapter 372 of the Texas Local Government Code for the general purpose of financing improvements and services related to: the acquisition or construction of drainage facilities or improvements; the design, construction, and maintenance of parks and greenspace, fences, ponds, together with any ancillary structures, features, or amenities such as playgrounds, splash pads, pools, athletic facilities, pavilions, community facilities, irrigation, walkways, lighting, benches, trash receptacles, community signage, and any similar items located therein, along with all necessary grading, drainage, and similar infrastructure involved in the maintenance of such parks and greenspace; landscape, hardscape, and irrigation; and, the costs of establishing, administering, and operating the public improvement district; and WHEREAS, the Petition. a copy of which has been attached to and made a part of this Resolution as "Exhibit I", was examined, verified, found to meet the requirements of Section 372.005(b) of the Texas Local Government Code, and accepted by the City Council: and WHEREAS, the Petition covers property within an area generally bounded by 26`h Street on the north, 34`h Street on the south, Upland Avenue on the east, and Yuma Avenue on the west, with such property being the development known as Upland Crossing, and a description and depiction of the property covered by the Petition is attached to and made a part of this Resolution as "Exhibit 2"; and WHEREAS, notice of the public hearing was published in the Lubbock Avalanche -Journal, a daily paper of general circulation in the City, such publication date being before the fifteenth (15`h) day before the date of the public hearing, stating the time and place of the public hearing, the general nature of the services, the estimated cost of the services, the boundaries of the proposed public improvement district, the method of assessment, and the apportionment of cost between the public improvement district and the City; and WHEREAS, before the fifteenth (15`h) day before the date of the public hearing, written notice of the proposed public improvement district was mailed to the current addresses of the record owners, as reflected on the most recent certified appraisal roll of the Lubbock Central Appraisal District, of property subject to assessment under the proposed public improvement district; and WHEREAS, the public hearing was convened at the time and place mentioned in the published notice, on the eighth (8'h) day of October, 2019, at four thirty (4:30) p.m., at Fire Station 16 located at 4030 114'h Street, Lubbock, Texas; and WHEREAS, in accordance with the published and mailed notices, the Council called the public hearing and heard public comment from interested persons speaking in favor or opposition to the proposed public improvement district -and the Council heard a report by City staff on the advisability of the proposed public improvement district and its benefits to the City and to the property within the boundaries of the proposed public improvement district; and WHEREAS, the proponents of the proposed public improvement district offered evidence, both oral and documentary, in favor of all of the foregoing matters relating to the creation of the proposed public improvement district, and opponents of the public improvement district were given the opportunity to appear to contest authorization of the proposed public improvement district, after which the Council closed the hearing; and NOW THEREFORE: BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF LUBBOCK: SECTION 1: THAT the facts and recitations contained in the preamble of this resolution are hereby found and declared to be true and correct. SECTION 2: THAT after conducting a public hearing, examining evidence, and hearing testimony, the City Council finds and determines the following: (a) "That the public hearing on the advisability of authorizing the Upland Crossing Public Improvement District has been properly called, held, and conducted and that notice of such hearing has been published and mailed as required by law and delivered to the current address of the owners of property subject to assessment under the Upland Crossing Public Improvement District; and (b) That authorization of the Upland Crossing Public Improvement District with boundaries depicted and described in "Exhibit 2" is advisable and will result in benefits to the City, its residents, and the property owners in the Upland Crossing Public Improvement District for the general purpose of financing improvements and services related to: the acquisition or construction of drainage facilities or improvements; the design, construction, and maintenance of parks and greenspace, fences, ponds, together with any ancillary structures, features, or amenities such as playgrounds, splash pads, pools, athletic facilities, pavilions, community facilities, irrigation, walkways, lighting, benches, trash receptacles, community signage, and any similar items located therein, along with all necessary grading, drainage, and similar infrastructure involved in the maintenance of such parks and greenspace; landscape, hardscape, and irrigation; and, the costs of establishing, administering, and operating the public improvement district; and (c) That the total estimated cost of services and improvements to be paid by the assessment generated within the Upland Crossing Public Improvement District through Fiscal Year 2024-25 is approximately one hundred fifty-six thousand nine hundred and ninety five dollars ($156,995) (the "Costs"), with such Costs being described in "Exhibit 3" attached to and made a part of this Resolution; and (d) That the Costs will be paid by the proposed assessment rate of fifteen cents ($0.15) per one hundred dollars ($100) of valuation of property within the Upland Crossing Public Improvement District through Fiscal Year 2024-25, with such proposed assessment being described in "Exhibit 3"; and (e) That as to the apportionment of the Costs between the Upland Crossing Public Improvement District and the City, all the Costs will be paid by the Upland Crossing Public Improvement District through assessments on the property within the boundaries of the Upland Crossing Public Improvement District. SECTION 3: THAT subject to Chapter 372 of the Texas Local Government Code, the City Council hereby authorizes a public improvement district over the area depicted and described in "Exhibit 2" and such public improvement district shall be identified as the Upland Crossing Public Improvement District, City of Lubbock, Texas. SECTION 4: THAT the City Council hereby creates the Upland Crossing Public Improvement District Advisory Board for the Upland Crossing Public Improvement District. The Upland Crossing Public Improvement District Advisory Board shall act as an advisory board of the City of Lubbock, and shall initially be composed of five (5) members, each of whom will represent a developer of the property within the Upland Crossing Public Improvement District. The Upland Crossing Public Improvement District Advisory Board shall follow any and all rules, regulations, policies, and procedures related to City of Lubbock advisory boards and the Criteria and Guidelines for Public Improvement Districts. The initial members of the Advisory Board for the Upland Crossing Public Improvement District shall serve a two (2) year term. The City Council may extend the term of the initial governing board beyond two (2) years. The initial Advisory Board of the Upland Crossing Public Improvement District will provide recommendations to the City Council on all matters related to the initial development of the Upland Crossing Public Improvement District, including matters related to the Costs and to the assessments on properties located within the Upland Crossing Public Improvement District. Upon the end of the term of the initial Advisory Board members of the Upland Crossing Public Improvement District, an election will be held for the Upland Crossing property owners to vote on each of the five seats. Once an election has taken place, the City Council will appoint the members of the Upland Crossing Public Improvement District Advisory Board. The PIU Board shall adopt and be governed by a set of bylaws that, among other things, direct the PID Board as to its membership, its purpose, and its procedure for conducting business related to the Upland Crossing Public Improvement District. SECTION 5: THAT the notice of this authorization for the Upland Crossing Public Improvement District shall be published in a newspaper of general circulation within the City of Lubbock, Texas and Lubbock County, Texas. SECTION 6: THAT if any section, paragraph, clause or provision of this Resolution shall for any reason be held to be invalid or unenforceable, the invalidity or unenforceability of such section paragraph, clause or provision shall not affect any of the remaining provisions of this Resolution. Passed by the City Council this 8th day of October , 2019. [,'—I DANIEL M. POPE, MAYOR ATTEST: "Zo Re a ca Garza, City Secret y ,--) APP VED AS TO CONTEN Brianna Gerardi, Director o sine Development APPROVED AS TO FORM: Amy Si , D ty . rty Attorney Exhibit 1 CITY OF LUBBOCK § COUNTY OF LUBBOCK § STATE OF TEXAS § CERTIFICATE TO COPY OF PUBLIC RECORD I hereby certify, in the performance of the functions of my office, that all signatures on the attached document have been verified and that the same constitutes record owners of taxable real property representing more than fifty percent (50'/0) of the appraised value of the taxable real property liable for assessment under the proposal (as determined by the current roll of the Appraisal District, August 14, 2019) in the area known as Upland Crossing, as shown on the attached map, petitioners own 100% of the value; AND that the petition must be signed by the record owners of property that constitute more than fifty percent (50%) of the number of record owners or the record owners of more than fifty percent (5(Wo) of the area within the PID, the petitioners own 100% of the total area within the proposed Upland Crossing PID; said documents appear of record in my office and that said documents are an official record from the public office of the City Secretary of the City of Lubbock, Lubbock County, State of Texas, and is kept in said office. I further certify that I am the City Secretary of the City of Lubbock, that I have legal custody of said record, and that I am a lawful possessor and keeper and have legal custody of the records in said office. In witness whereof I have hereunto set my hand and affixed the official seal of said office the 201h day of August, 2019. (City Seal) ' �tA'er' , C Reb=4 Garza City Seaekry City of Lubbock Lubbock County, State of Texas 0 Exhibit 1 August 16, 2019 To: Becky Garza, City Secretary ity of ock TEXAS From: Cheryl Brock, Executive Director of Financial Planning and Analysis 06 Sally Stili Abbe, Director of GIS and Data Services $A CC: Blu Kostelich, Chief Financial Officer Re: Upland Crossing Public Improvement District Petition Recently, the City of Lubbock received petitions from Property Owners requesting the City of Lubbock establish a Public Improvement District (PID) for the proposed Upland Crossing development shown on the attached map. PID establishment can only be Initiated by a petition of property owners who meet two tests outlined in the state statute. The first test is that the petition is sufficient if signed by the owners of taxable real property representing more than 5096 of the appraised value of the taxable real property liable for assessment by the current roll of the appraisal district (August 14, 2019). Since the petitioners, Storehouse Land Company LLC and Betenbough Homes LLC, own 100% percent of the taxable real property value within the boundary, the petition passes the value test. The second test is that the petition must be signed by the record owners of property that constitute more than 5096 of the number of record owners 9L the record owners of more than 50% of the area within the PID. The petitioners own 100% percent of the total area within the proposed Upland Crossing PID area so they pass the area test. The notarized signature on the Upland Crossing petitions were validated by a visual review and owners on the petitions were verified against the current tax roll received from Lubbock Central Appraisal District by the Financial Planning and Analysis Department and reviewed by Sally Abbe, Director of GIS and Data Services. �* Exhibit 1 Upland Craning Public Improvenwot District ' LCAD Rail 2.14419 pmpaytir ID QW1W >t4l# Ma.Lort �iy T.a.ble Manes Address ■ Ya4Ye Wiw 8!07874 STOREHOUSE LAND CO L11G 8105 82ND 5T LUSSOCK 79407 SLK AK SEC 42 AB SSI TR Cid 1 20,728 284728 LUSSOCK, TX 79434 AQ 12.562 8111447 STOREHOUSE LAND CO LLC 6305 82ND ST LUBBOCK 79407 VOILDERLAND PARK L 1 � 31100' 3.100 LUSSOCK, Tx 79424 8111535 STOREHOUSE LAND OO k1C +630582ND ST :UMWCK 7940'1 WILDWAAND PARK l2 3.iSG' 3.150 LUBBOCi(, Tx 7943{ R111609 BETENBOUGN NOMES LLC ;880582ND ST __ 8202 VLOLAAVE, VALDERLAND PARK L8 --f— _ 3.850 2,2004 W BBOCK, Tx 79424.3681 ILLtBBOCX 7x 79407 8311743 STOREHOUSE LAND CO LLC �69682NDST -'. � LUM-WK 79107tV11LAERLANDPARK l4 5 0 3.200 8111817 STOREHOUSE :LUSSOCK,TX 79424 LUMMA6 i LAND CO LLC 16M 82ND ST LUBBOCK 79107 PARK L 5 3,IS0 3,150 LUBBOCK, TX 79434 8111887 STOREHOUSE LANG CO LLC ._ .8305 82ND ST L.U880CK 7940'! WILOERLAND PARK L 6 , 3.200 3;2D0 I 'LUBBOCK, 71179424 i 8120691 STOREHOUSE LAND CO LLC 6305 82ND ST lUBMIOCK 79407 MILK AK SEC 42 AS 851 TR C5 52,696 5,953 , LUBBOCK, TX 79424 AC: SL161 !Rama STOREHOUSE LAND CO LLC S30S UN0 ST 12602 UPLAND AVE, IKKAKSSC41MIMIRD1 858,935 65A18 LUBBO% Tx 79424 1LUBBDCw Tx 79407 s TR 03 AQ 139.787 be .5 .s y V b la cl P -4 R Exhibit 1 I 0 rqu Exhibit 1 PETITION FOR THE CREATION OF A PUBLIC IMPROVEMENT DISTRICT TO FINANCE IMPROVEMENTS TO UPLAND CROSSING THE STATE OF TEXAS j CITY OF LUBBOCK § TO: THE HONORABLE MAYOR AND CITY COUNCIL OF THE CITY OF LUBBOCK: The undersigned petitioners (the "Petitioners"), acting pursuant to the provisions of Chapter 372, Texas Local Government Code, as amended (the "Act"), request that the City of Lubbock create a public improvement district (the "District") in the territory described in Exhibit A attached hereto (the "Land") within the City of Lubbock, Texas (the "City"), and in support of this petition the Petitioners would present the following: Section 1. Standing of Petitioners. Petitioners affirm that they are the record owners as shown in exhibit "B". In compliance with the requirements of Texas Local Government Code, Section 372.005(b), as determined by the current roll of the Lubbock Central Appraisal District, the Petitioners constitute: (i) the owners of taxable real property representing more than 50% of the appraised value of real property liable for assessment under the proposal described herein, and (ii) the record owners of taxable real property that constitutes more than 50% of the area of all taxable real property that is liable for assessment under such proposal. Sgction 22. General natp-m_ of the public im v ts. The general nature of the proposed public improvements is: (i)acquisition, construction, or drainage facilities or improvements, (ii) the design, construction and maintenance of parks and green spaces, fences, ponds, together with any ancillary structures, features or amenities such as playgrounds, splash pads, pool(s), athletic facilities, pavilions, community facilities, irrigation, walkways, lighting, benches, trash receptacles, community signage and any similar items located there in along with all necessary grading, drainage, and similar infrastructure involved in the construction of such parks and greens; landscaping, hardscaping and irrigation; and (ii) payment of costs associated with developing and financing the public improvements listed in subdivision (i) including costs of establishing, administering and operating the District. Section 3. EstimaW cost of the RmWed ublic iMmy-ements and annual ' t ance: $700,000estimated for proposed public improvements as mentioned in section 2. Annual maintenance costs - $75,000 for proposed improvements made by developer (Betenbough Homes, LLC). Section 4, BgMadaries The proposed boundaries of the District are described in Exhibit Section 5. Method of assessment. An assessment methodology has been prepared that will address (i) how the costs of the public improvements paid for with the assessments are assessed against the property in the District, (ii) the assessments to be collected each year, and (iii) reduction of the assessments for costs savings (pursuant to the annual review of the service plan for the District). Additionally, a report will be prepared showing the special benefits WJ Exhibit 1 accruing to property in the District and how the costs of the public improvements are assessed to property on the basis of the special benefits. The result will be that equal shares of the costs will be imposed on property similarly benefited. In assessing the maintenance of the public improvements, property will be classified based on the net taxable value of the property. The assessment methodology will result in each parcel paying its fair share of the costs of maintaining the public improvements based on the special benefits received by the property from the public improvements and property equally situated paying equal shares of the costs of the public improvements. The annual budget is subject to review by City of Lubbock staff and final approval by the City Council. The annual assessments may be adjusted as a result of the City of Lubbock staff review and City Council approval. Section 6. rti ween the Citi . The City will not be obligated to provide any funds to finance the proposed public improvements or maintain the public improvements. All of the costs of the proposed public improvements will be paid by assessments of the property within the District and from other sources of funds, if any, available to the developer of the Land. Section 7. ManagaMent of the District. The City will manage the District, or a partnership between the municipality or county and the private sector, to the extent allowed by law, the City may contract with either a non-profit, or a for-profit organization, including a Public Facilities Corporation created by the City pursuant to Chapter 303, Texas Local Government Code, to carry out all or a part of the responsibilities of managing the District, including the day-to-day management and administration of the District. tion 8. AdyLimboard. An advisory board may be established to develop and recommend an improvement plan to the City Council of the City (the "City Council'). The signers of this petition request the establishment of the District and this petition will be filed with the City Secretary in support of the creation of the District by the City Council as herein provided. [Signature on following page] 941 Storehouse Land Company, LLC 4, fa' -r Ron R etenbcoo, Vice Preddent THE STATE OF TEXAS COUNTY OF LUBBOCK Exhibit 1 PETI'T'IONERS: Betenbough Homes, LLC 6�� Chris Seery, AnthadmiAgent On this, the -,I- day of JY 2019, before me, the undersigned Notary Public, personally appeared Ron Betenbough, Vice President of Storehouse Land Company, LLC, who acknowledged that he/she is the landowner and that he/she, in such capacity, being duly authorized so to do, executed the foregoing petition for the purposes therein contained by signing his name in such capacity. IN WITNESS WHEREOF, I have hereunto set my hand and official seal. MM Eff NIM Notary Pudlic Signature THE STATE OF TEXAS COUNTY OF LUBBOCK On this, the 3 day of JAX 2019, before me, the undersigned Notary Public, personally appeared Chris Berry, an Authorized Agent of Betenbough Homes, LLC, who acknowledged that he/she is the landowner and that he/she, in such capacity, being duly authorized so to do, executed the foregoing petition for the purposes therein contained by signing her name in such capacity. IN WITNESS WHEREOF, I have hereunto set my hand and official seal. Notary Public Signature A-1 Exhibit 1 BETENBOUGH HOMESs July 3�, 2019 Cheryl Brock City of Lubbock, Tx 162513' Street Lubbock, Tx 79457 RE: Upland Crossing, Public Improvement District Dear Honorable Mayor and City Council; Upland Crossing is a residential development within the city limits of the City of Lubbock bound on the West by Yuma Ave, the East by Upland Ave, the North by 261' St, and the South by 34th Street. We are proposing to create a Public Improvement District, "PID", to maintain the public improvements for Upland Crossing In order to comply with the "Public improvements District Policies and Guidelines", we are providing Information as required in Section III. "Guidelines", b. "Petition Requirements". We are providing information regarding items 1, 5-16, as follow: I. Betenbough has purchased 212 acres. Betenbough plans to invest approximately $700,000 in Improvements for this park system before it would be deeded over to the City and the PID. This would Include items such as: playscapes, benches, walking trails, landscaping, etc. (subject to change) We will be here to help keep the PID healthy and thriving. We have a heavily vested interest in making this PID healthy and self-sufficient. S. If there is sufficient support to petition for dissolving the Public Improvement District certain requirements in addition to sufficient support must be met In order to dissolve the PID. Those requirements Include arrangements to transfer ownership and maintenance of the City owned and PID maintained property. These arrangements are to be made by the Advisory Board and with funds available to the Advisory Board. Betenbough will have been responsible for some maintenance before the park system would be deeded over. With having supported some maintenance, we feel we will have an accurate representation of cost to propose for the service plan. So far, all of our proposed service plans, does get reviewed by city staff, and approved by city council. Exhibit 1 BETENBOUGH HOMES8 6. Map of the area is attached to this email and is to be added to the petition. 7. In regard to the procedure for the nomination of the PID Advisory Board, the process shall be consistent with the bylaws for Public Improvement Districts for the City of Lubbock. 8. Addressed in Section 2 of the petition. We feel that the "park system" creates a quality of life for the homeowners. Each park will be uniquely different and interconnected through city ROW. 9. Each parcel of City -owned land will be identified as a "Tract" at time of platting. 10. General description of proposed improvements in Section 2 of the petition. 11. The estimated total cost of the improvements is approximately $700,000 and will be paid and constructed by the developer, Beten bough Homes, with no desire for any reimbursement. The estimated cost of the maintenance is approximately $75,000 per year and is to be paid for by the PID as soon as the funds are available. This is the estimated cost for the entirety of the "park system". 12. Budget is attached in the service plan. 13. Method of assessment will be based on the net taxable value of the affected properties and will be assessed at $.15 per $100.00 valuation. 14. Documentation of liability Insurance will be attached to this letter. 15. Addressed in Section 6 of the petition. 16. Addressed in Section 5 of the petition. Exhibit 1 BETENBOUGH HOMES' Our goal Is to provide all the information requested to continue with the creation of the PID. Please let us know if you have any questions or require any additional information. ar A7101� Chris Berry Land Planning Manager Betenbough Homes Exhibit 1 6310 Gw=Am Bunch tn66ock 11X. 79424 Phofllc00&607--150 FAVOG&M-ft"s Teas FkM0*Wa0on roe: 10007500 E— inftftWanLwneymm .cam A PUBLIC IMPROVEMENT DISTRICT IN SECTION 42, BLOCK AK, ABSTRACTS NO. 11$1 AND 1264, LUBBOCK COUNTY, TEXAS (Exhibit Sketch embed as Sheat 2) A tract of land located in Section 42, Block AK. Abstracts No. 951 and 1264, Lubbock County, Taxes, comprised of that certain 188.5074 acre tract of land conveyed to Storehouse Land Company, LLC, described as "Tract 6" in a Warranty Deed recorded In County Clerk's File Number 2017029518 of the Official Public Records of Lubbock County, Teras, and all of Lots I through 6 and the streets and alleys in Wilderland Park, a subdivision in said Section 42, according to the map, plat andfor dedication deed thereof recorded in Volume 1679, Page 157 of the Deed Records of Lubbock County, Texas, and that certain 12.5643 acre tract of land conveyed to Storehouse Land Company, LLC, described in a Correction Deed recorded in County Clerk's File Number 2017043208 of the Official Public Records of Lubbock County, Texas, said tract contains 206.557 acres of lend, more or less, being tintiter described by metes and bounds as follows: BEGINNING at a lR" iron rod with a cap marked "H.R. dt Assoce found in the north line of 34th Street, as described in a Dedication Deed recorded in Volume 3917, Page 293 of the Real Property Records of Lubbock County, Texas, and in the west line of that certain 1.62 Am tract of land described in a Warranty Deed recorded in County Clerk's File Number 2012034420 of the Oflicial Public Records of Lubbock County, Texas, for the most southerly southeast corner of this tract aced laving coordinates of Northing: 7,269,270.40 and Easting: 909.435.23, Taxes Coordinate System of 1983 (2011), Texas North Central Zone, whence a railroad spike found near the centerline of 34th Street and in the south line of said Section 42 at the southwest corner of said 1.62 acre tract bears S. 01° 48' 16" W. a distance of 55.00 feet, and a railroad spike found at the southeast comer of said Section 42 bears S. 01° 48' 16" W. a distance of 55.00 feet and S. 88" 11'01" E. a distance of 900.06 feet, said section corner having coordinates of Northing: 7,269,186.92 and Easting: 910,332.89, Texas Coordinate System of 1983 (2011), Texas North Central Zone; THENCE N. Sr I P 01 R W.. along the north line of 34th Strut, a distance of 424.40 feet pass a 112" iron rod with a cap marked "H.R. di: Assocs' found at the west terminus of said dedication of 34th Street and In the east plat limits of said Wilderland Park, for a comer of said 188.5074 acre tract, continuing along the north line of 34th Strut, as dedicated with the plat of said Wildedand Park, for a total distance of 940.40 feet to a 112" Iron rod with a cap marked "H.R. do Assocs" found in the west line of the plat limits of said Wilderland Park for a corner of this trach THENCE S. 010 48' 59" W. a distance of 55.00 feet to a railroad spike found in the south line of said Section 42 near the centerline of 34th Street at the southwest corner of the plat limits of said Wilderland Park for a corner of this tract; THENCE N. 88' I F Ol" W., along the south line of said Section 42 at a distance of 1218.86 feet pass a railroad spike found near the centerline of 34th Street at the most southerly southwest corner of said 188.5074 acre tract, same being the southeast corner of said 12.5643 acre tract and having coordinates of Northing: 7,269,283.87 and Easting: 907,275.83, Texas Coordinate System of 1983 (2011). Texas North Central Zone, continuing along the south line of said Section 42 for a total distance of 1830.86 feet to a railroad spike found near the centerline of 34th Street for the most southerly southwest comer of this tract, same being the southeast corner of that certain 3.077 acre tract of land described in a Warranty Deed recorded in County Clerk's File Number 2015003125 of the Official Public Records of Lubbock County, Texas; THENCE N. 01" 57 00" E., at a distance of 55.00 feet pass a In" iron rod with a cap marked "H.R. & Assocs" found in reference, continuing for a total distance of 894.33 fat to a lit" iron rod with a cep marked "H.R. dt Assocs" found in the west portion of the south line of said 188.5074 acre trod at the northwest comer of said 12.5643 acre tract, same being the Exhibit 1 northeast corner of that certain 3.077 acre tract of land described in a Warranty Deed recorded in County Clerk's File Number 2015003125 of the Official Public Records of Lubbock County, Texas, and a corner of this tract; THENCE N. 88° 10' 33" W. a distance of 149.88 feet to a l/2" iron rod with a cap marked "H.R. 4t Assoce" found at the northwest corner of said 3.077 acre tract and in the east line of the plat limits of Alcove Park, Tract "A", an addition to the City of Lubbock, Lubbock County, Texas, according to the map, plat and/or dedication deed thereof recorded in Plat and Dedication Number 2011012272 of the Official Public Records of Lubbock County, Texas, for the most westerly southwest confer of said 188.5074 acre tract and this tract; THENCE N. 010 ST 36" E., along the east lines of said Alcove Park, Tract "A", that attain 10.437 acre tract of land described in a Warranty Deed recorded In County Clears File Number 2009014889 of the Official Public Records of Lubbock Cowry, Texas, and that certain 16.93 acre tract of land described in a Warranty Deed recorded In Volume 8825, Page 153 of the Official Public Records of Lubbock County, Texas, a distance of 1751.28 feat to a 112" iron pipe found for the northwest corner of said 188.5074 acro tract and this tract; THENCE S. 88" 07 Sr E., along the south line of 26th Street, as currently recognized and occupied on the ground, a distance of 595.35 feet to a 1/2" Iron rod found at the northwest comer of the plat limits of Owner Addition, Lot 1, an addition to the City of Lubbock, Lubbock County, Texas, according to the map, plat andlor dedication deed thereof recorded in Volume 2678, Page 45 of the Real Property Records of Lubbock County, Texas, for a comer of said 188.5074 we tract and this tract; THENCE S. 010 48' 38" W., at a distance of 32.00 fent pass the south right -of --way line of 26th Street, as dedicated with the plat of said Gamer Addition. Lot 1, continuing for a total distance of 160.00 feet to a IR" iron rod with a cap marked "Stevens RPLS 4339" set for the southwest corner of said Gamer Addition, Lot 1, and a comer of said 188.3074 acre tract and this tract; THENCE S. 88° 09' Sr E., along the south line of said Gamer Addition, Lot 1, a distance of 90.00 fed to a 112" iron rod with a cop marked "Stevens RPLS 4339" set under a concrete footing for a fence for an ell comer of that certain 3.0 acro tract of land described as a "Save and Except" tract In a Warranty Deed recorded in Volume 4712, Page 259 of the Real Property Records of Lubbock County, Texas, and a corner of said 188.5074 acre tract and this tract; THENCE S. 01° 48' 38" W. a distance of 149.15 feet to a 1/2" iron rod found at the most southerly southwest comer of said 3.0 acre tract for a corner of said 188.5074 acre tract and this treat, THENCE S. or 07 52" F. a distance of 376.00 feet to a 112" Iron rod found at the southeast corner of said 3.0 acre tract for a comer of said 188.5074 acre tract and this tract; THENCE N. 01' 47 00" E. a distance of 309.15 feet to a 112" iron rod found at the northeast comer of said 3.0 acre tract for a corner of said 188.5074 acre tract and this tract, THENCE S. 88° 09' 52" E., along the south line of 26th Street, as currently recognized and occupied on the ground. at a distance of 2701.22 tea pass a 112" iron rod with a cap marked "Stevens RPLS 4339" set in reference, continuing for a total distance of 2756.22 fed to a spindle found in the east line of said Section 42 and near the centerline of Upland Avenue at the northeast comer of said 188.5074 acre tract and this tract, having coordinates of Northing: 7,271,829.21 and Easting: 910,419.55, Texas Coordinate System of 1983 (2011), Texas North Central Zone; THENCE S. 010 52431 W., along the east line of said Seaton 42, a distance of 934.40 fes to a railroad spike found near the c enterdine of Upland Avenue at the northeast comer of that certain 1.0 acre tract of land described in a Warranty Deed recorded in County Clerk's File Number 2006018155 of the Official Public Records of Lubbock County, Texas, for a comer of said 188.3074 acre tract and this tract; THENCE N. 889 10' 47" W., at a distance of 55.00 feet pass a 1/2" iron rod with a cap marked "Stevens RPLS 4339" set in reference, continuing for a total distance of 290.40 feet Exhibit 1 to a 1/2" iron rod with a cop marked "H.IL & Assocs" found at the northwest corner of said 1.0 ace tract for a corner ofsaid 188.5074 acre tract and this tract•, THENCE S. 01 ° S2'430 W., along the west line of said l.0 an tract and the west line of six small acreage tracts of land, a distance of 1049.9S feet to a 112° iron rod with a cap marked "H.R. do AssoW found at the southwest comer of another 1.0 acre tract of land described in a Warranty Deed recorded in Volume 6961, Page 92 of the Real Property Records of Lubbock County. Testas, for a comer of said 188.5074 acre tract and the most easterly southeast corner of this t w;4 THENCE N. 88° 10' 47" W. a distance of 310.46 feel to a 1/2" iron rod with a cap marked "Stevens RPLS 4339" set for a comer of this tract; THENCE S. 01* 48' 49" W. a distance of 369.67 feet to a 112" Iron rod with a cap marked "H.R & Assocs" found at the northeast corner of sold 1.62 acre tract for a corner of said 188.5074 an tract and this tract; THENCE N. 881 10' 10" W. a distance of 299.99 feet to a Ur iron rod found at the northwest confer of said 1.62 acne tract for a corner of said 188.5074 acre tract and this tract; THENCE S. 01" 48' 16" W. a distance of 235.44 feet to the Point of Beginning. Bearings and Coordinates are based on the Texas Coordinate System of IM (2011), Texas North Central Zone. The Convergence angle to True North bearings is -01° 54' 070. Distances are at surthce, in U.S. Survey fat. This description was prepared for purposes of instituting a Public Improvement District and does not represent a survey made upon the ground. This description is compiled tiom information obtained in previous surveys made within sold Section 42 and encompassing this crest. Exhibit 1 VIngZ BM lit .'� BPIION....:::;.::Ifi li[ti In 7 f ! J off r &a I 1 e f. V, \0 INA �1.1 pow As. C,A fir, .r Exhibit 2 6310 Genoa Ave. Suite A, Lubbock TX. 79424 Phone., 806-697-1569 Fax:806.702-8995 Texas Firm Registration No. 10087500 E-rrraii: lnk6stevenssurvey com nomsQRelenssurvey com A PUBLIC IMPROVEMENT DISTRICT IN SECTION 42, BLOCK AK, ABSTRACTS NO. 851 AND 1264. LUBBOCK COUNTY, TEXAS (Exhibit Sketch attached as Sheet 2) A tract of land located in Section 42, Block AK, Abstracts No. 851 and 1264, Lubbock County, Texas, comprised of that certain 188.5074 acre tract of land conveyed to Storehouse Land Company, LLC, described as "Tract 6" in a Warranty Deed recorded in County Clerk's File Number 2017029518 of the Official Public Records of Lubbock County, Texas, and all of Lots 1 through 6 and the streets and alleys in Wilderland Park, a subdivision in said Section 42, according to the map, plat and/or dedication deed thereof recorded in Volume 1679, Page 157 of the Deed Records of Lubbock County, Texas, and that certain 12.5643 acre tract of land conveyed to Storehouse Land Company, LLC, described in a Correction Deed recorded in County Clerk's File Number 2017045208 of the Official Public Records of Lubbock County, Texas, said tract contains 206.557 acres of land, more or less, being further described by metes and bounds as follows: BEGINNING at a 1/2" iron rod with a cap marked "H.R. & Assocs" found in the north line of 34th Street, as described in a Dedication Deed recorded in Volume 3917, Page 293 of the Real Property Records of Lubbock County, Texas, and in the west line of that certain 1.62 acre tract of land described in a Warranty Deed recorded in County Clerk's File Number 2012034420 of the Official Public Records of Lubbock County, Texas, for the most southerly southeast corner of this tract and having coordinates of Northing: 7,269,270.40 and Easting: 909,435.23, Texas Coordinate System of 1983 (2011), Texas North Central Zone, whence a railroad spike found near the centerline of 34th Street and in the south line of said Section 42 at the southwest corner of said 1.62 acre tract bears S. 01° 48' 16" W. a distance of 55.00 feet, and a railroad spike found at the southeast corner of said Section 42 bears S. 010 48' 16" W. a distance of 55.00 feet and S. 88° 1 l' 01" E. a distance of 900.06 feet, said section corner having coordinates of Northing: 7,269,186.92 and Easting: 910,332.89, Texas Coordinate System of 1983 (2011), Texas North Central Zone; THENCE N. 880 11' 01" W., along the north line of 34th Street, a distance of 424.40 feet pass a 112" iron rod with a cap marked "H.R. & Assocs" found at the west terminus of said dedication of 34th Street and in the east plat limits of said Wilderland Park, for a corner of said 188.5074 acre tract, continuing along the north line of 34th Street, as dedicated with the plat of said Wilderland Park, for a total distance of 940.40 feet to a 1/2" iron rod with a cap marked "H.R. & Assocs" found in the west line of the plat limits of said Wilderland Park for a corner of this tract; THENCE S. 01° 48' 59" W. a distance of 55.00 feet to a railroad spike found in the south line of said Section 42 near the centerline of 34th Street at the southwest corner of the plat limits of said Wilderland Park for a corner of this tract; THENCE N. 880 11' 01" W., along the south line of said Section 42 at a distance of 1218.86 feet pass a railroad spike found near the centerline of 34th Street at the most southerly southwest comer of said 188.5074 acre tract, same being the southeast corner of said 12.5643 acre tract and having coordinates of Northing: 7,269,283.87 and Easting: 907,275.83, Texas Coordinate System of 1983 (2011), Texas North Central Zone, continuing along the south line of said Section 42 for a total distance of 1830.86 feet to a railroad spike found near the centerline of 34th Street for the most southerly southwest corner of this tract, same being the southeast comer of that certain 3.077 acre tract of land described in a Warranty Deed recorded in County Clerk's File Number 2015003125 of the Official Public Records of Lubbock County, Texas; THENCE N. 010 57'00" E., at a distance of 55.00 feet pass a 1?2" iron rod with a cap marked "H.R. & Assocs" found in reference, continuing for a total distance of 894.33 feet to a V2" iron rod with a cap marked "H.R. & Assocs" found in the west portion of the south line of said 188.5074 acre tract at the northwest comer of said 12.5643 acre tract, same being the Exhibit 2 northeast comer of that certain 3.077 acre tract of land described in a Warranty Deed recorded in County Clerk's File Number 2015003125 of the Official Public Records of Lubbock County, Texas, and a corner of this tract; THENCE N. 8811 10'33" W. a distance of 149.88 feet to a 1/2" iron rod with a cap marked "H.R. & Assocs" found at the northwest corner of said 3.077 acre tract and in the east line of the plat limits of Alcove Park, Tract "A", an addition to the City of Lubbock, Lubbock County, Texas, according to the map, plat and/or dedication deed thereof recorded in Plat and Dedication Number 2011012272 of the Official Public Records of Lubbock County, Texas, for the most westerly southwest comer of said 188.5074 acre tract and this tract; THENCE N. 01° 57' 36" E., along the east lines of said Alcove Park, Tract "A", that certain 10.437 acre tract of land described in.a Warranty Deed recorded in County Clerk's File Number 2009014889 of the Official Public Records of Lubbock County, Texas, and that certain 16.93 acre tract of land described in a Warranty Deed recorded in Volume 8825, Page 153 of the Official Public Records of Lubbock County, Texas, a distance of 1751.28 feet to a 1/2" iron pipe found for the northwest corner of said 188.5074 acre tract and this tract; THENCE S. 880 09'52" E., along the south line of 26th Street, as currently recognized and occupied on the ground, a distance of 595.35 feet to a 1/2" iron rod found at the northwest comer of the plat limits of Garner Addition, Lot 1, an addition to the City of Lubbock, Lubbock County, Texas, according to the map, plat and/or dedication deed thereof recorded in Volume 2678, Page 45 of the Real Property Records of Lubbock County, Texas, for a comer of said 188.5074 acre tract and this tract; THENCE S. 010 48' 38" W., at a distance of 32.00 feet pass the south right-of-way line of 26th Street, as dedicated with the plat of said Garner Addition, Lot 1, continuing for a total distance of 160.00 feet to a 1/2" iron rod with a cap marked "Stevens RPLS 4339" set for the southwest comer of said Gamer Addition, Lot 1, and a comer of said 188.5074 acre tract and this tract; THENCE S. 880 09' 52" E., along the south Iine of said Garner Addition, Lot 1, a distance of 90.00 feet to a 1/2" iron rod with a cap marked "Stevens RPLS 4339" set under a concrete footing for a fence for an ell corner of that certain 3.0 acre tract of land described as a "Save and Except" tract in a Warranty Deed recorded in Volume 4712, Page 259 of the Real Property Records of Lubbock County, Texas, and a corner of said 188.5074 acre tract and this tract; THENCE S. 010 48' 38" W. a distance of 149.15 feet to a 112" iron rod found at the most southerly southwest corner of said 3.0 acre tract for a comer of said 188.5074 acre tract and this tract; THENCE S. 88° 09' 52" E. a distance of 376.00 feet to a 1 i2" iron rod found at the southeast comer of said 3.0 acre tract for a corner of said 188.5074 acre tract and this tract; THENCE N. 0l ° 49' 00" E. a distance of 309.15 feet to a 1 i2" iron rod found at the northeast comer of said 3.0 acre tract for a comer of said 188.5074 acre tract and this tract; THENCE S. 880 09' 52" E., along the south line of 26th Street, as currently recognized and occupied on the ground, at a distance of 2701.22 feet pass a 1?2" iron rod with a cap marked "Stevens RPLS 4339" set in reference, continuing for a total distance of 2756.22 feet to a spindle found in the east line of said Section 42 and near the centerline of Upland Avenue at the northeast comer of said 188.5074 acre tract and this tract, having coordinates of Northing: 7,271,829.21 and Easting: 910,419.55, Texas Coordinate System of 1983 (2011), Texas North Central Zone; THENCE S. 01° 52' 43" W., along the east line of said Section 42, a distance of 934.40 feet to a railroad spike found near the centerline of Upland Avenue at the northeast corner of that certain 1.0 acre tract of land described in a Warranty Deed recorded in County Clerk's File Number 2006018155 of the Official Public Records of Lubbock County, Texas, for a corner of said 188.5074 acre tract and this tract; THENCE N. 880 10' 47" W., at a distance of 55.00 feet pass a 1/2" iron rod with a cap marked "Stevens RPLS 4339" set in reference, continuing for a total distance of 290.40 feet Exhibit 2 to a 1!2" iron rod with a cap marked "H.R. & Assocs" found at the northwest corner of said 1.0 acre tract for a corner of said 188.5074 acre tract and this tract; THENCE S. 01" 52'43" W., along the west line of said 1.0 acre tract and the west line of six small acreage tracts of land, a distance of 1049.95 feet to a 1!2" iron rod with a cap marked "H.R. & Assocs" found at the southwest corner of another 1.0 acre tract of land described in a Warranty Deed recorded in Volume 6961, Page 92 of the Real Property Records of Lubbock County, Texas, for a corner of said 188.5074 acre tract and the most easterly southeast comer of this tract; THENCE N. 880 10'47" W. a distance of 310.46 feet to a 1!2" iron rod with a cap marked "Stevens RPLS 4339" set for a comer of this tract; THENCE S. OF 48'49" W. a distance of 369.67 feet to a 1/2" iron rod with a cap marked "H.R. & Assocs" found at the northeast comer of said 1.62 acre tract for a corner of said 188.5074 acre tract and this tract; THENCE N. 880 10' 10" W. a distance of 299.99 feet to a l:'2" iron rod found at the northwest corner of said 1.62 acre tract for a comer of said 188.5074 acre tract and this tract; THENCE S. O1 ° 48' 16" W. a distance of 235.44 feet to the Point of Beginning. Bearings and Coordinates are based on the Texas Coordinate System of 1983 (2011), Texas North Central Zone, The Convergence angle to True North bearings is -01" 54' 07". Distances are at surface, in U.S. Survey feet. This description was prepared for purposes of instituting a Public Improvement District and does not represent a survey made upon the ground. This description is compiled from information obtained in previous surveys made within said Section 42 and encompassing this tract. Exhibit 3 Upland Crossing PID Proposed Method of Assessment Properties will be assessed based on the City's 2020 "net taxable value" as established by the Lubbock Central Appraisal District and submitted to the City under Tax Code Section 26.04. Assessment rate will be $0.151$100 valuation All property will be assessed based on the final 20201.net taxable value". Upland Crossing Proposed PID Service Plan *Property Value growth rate 2%annually -Expense growth rale 2%annually ASSESSMENT INFORMATION 2020-2024 Assessment per $100,000 PROPOSED TAX YEAR 2019 2020 2021 2(122 2033 2024 Totab PROPERTY VALUES Estimated M of Homes dosed 100 125 150 125 500 Property Values* Craxable Value) 121 349 800,000 15,816,000 34,882,320 58,079,966 77,991,566 77,991,566 Discounted Property Values 121 349 720,000 14,234,400 31,394,088 52,271,970 70,192,409 70,192,409 FISCAL YEAR REVENUES FY 1019-20 FY 2020-21 FY 2021-22 FY 2022-23 rY 2023.24 FY 2024.25 Interest S - - 359 1,357 1,563 3,279 0.15 Assessment Q 50.15 i,;:8:i 211;52 47,091 78,408 105,289 253,219 Total $ 1,000 211352 47,091 78,408 105,209 256,490 FISCAL YEAR EXPENSES FY 2019.20 FY 2020.21 FY 2021-22 FY 2022-23 FY 2023-24 FY 2024-25 Park 1 6 acre Playa park wuh apprx 3 acres landscaped (with I acre of wafer) S - - - 48,000 48,960 96,960 Park 2 pocket park SW side along "Spine' 91600 9,792 19,392 Signate Neighborhood Entry Signs 1,000 1,020 2,020 Alley Fences Fences that separate an alley adjacent to a street - - - 1,000 1,020 2,020 Electric Cost (gr nark fighting shod irrigation Proposed parka I and 2 - - - 3,180 3,244 6,424 Administrative Casts 1,000 3,000 3,060 3,121 3,184 13,365 Annual Qoeralion C_sl 1,000 3,700 4,000 4,120 4,244 4,371 21,435 (2019 is only the cost of seltine 2021 assesimentl Develaner Fundine of Casts (1,000) (3,620) (4,620) Total S 1,080 7,000 7,190 70.145 71,590 156995 Cash Reserves is 141352 54 62,526 Km 96,214 *Property Value growth rate 2%annually -Expense growth rale 2%annually ASSESSMENT INFORMATION 2020-2024 Assessment per $100,000 � � + *� FILED AND RECORDED OFFICIAL PUBLIC RECORDS * { . ,' . �_. Kelly Pinion County Clerk Lubbock Coun�y TEXAS 03/05/2020 02:d3 PM 2020009373